Foxconn intends to set up a manufacturing facility in Telangana with the potential to generate one lakh jobs over the next 10 years.

What Happened? Foxconn, a popular original equipment manufacturer (OEM) for various tech companies including Apple, penned a “historic deal” with the Telangana government on Thursday.

The OEM’s chairman, Young Liu met with Telangana Chief Minister K Chandrashekar Rao in Hyderabad to discuss the company's plans to set up the unit after visiting two sites to locate the factory. That said, Foxconn is yet to quote a figure for its investment in the state.

“Foxconn’s unit will help generate large-scale employment for the youth and will help attract more such industries to the state,” said Rao speaking to IANS.

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Rao emphasized that Telangana considers Taiwan a natural partner and that the state is glad to be a part of Foxconn's growth story. He also deemed Foxconn’s investment and the opportunity to create more than one lakh jobs in Telangana as “commendable.”

The Chief Minister assured Liu that the state government would extend all help to Foxconn to roll out its operations in the State.

It is worth noting that the Taiwanese company already has operations in other Indian states of Andhra Pradesh and Tamil Nadu, where it manufactures products for companies such as Apple and Amazon.

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